Whole life policies can be structured to provide a higher level of death benefits to beneficiaries in the early years of the policies or for the policies to be paid off in a certain time period, for example, 20 years
Indicate whether the statement is true or false.
Answer: TRUE
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On January 1, 2015, Clarkson, Inc issued $400,000, 10-year, 10% bonds for $354,200 . The bonds pay interest on June 30 and December 31 . The market rate is 12%. What is the carrying value of the bonds after the first interest payment is made on June 30, 2015?
a. $352,960 b. $354,200 c. $355,452 d. $400,000
A just-in-time operation seeks to eliminate all product support functions
Indicate whether the statement is true or false
With respect to fund basis financial statements, governmental funds are considered to be a major fund when total assets, liabilities, revenues and expenditures combined are at least 10% of the total for the governmental funds category.
Answer the following statement true (T) or false (F)
Although corporations are not persons but artificial entities created by the state, it is clear that they can and should be held morally accountable
a. True b. False Indicate whether the statement is true or false